Parkway and the Related Group want 2015 property tax assessments canceled and redone

Miami /
Jul.July 18, 2016 06:00 PM

UPDATED July 19, 1:25 p.m.: Parkway Properties and the Related Group want Miami-Dade property tax appraiser Pedro Garcia to redo their 2015 property tax bills. In separate lawsuits filed in Miami-Dade Circuit Court, Orlando-based Parkway and Miami-based Related claim Garcia used an “arbitrary” assessment that was much higher compared to other properties similar to theirs.

In addition to Garcia, the complaints also name Miami-Dade tax collector Marcus Saiz de la Mora and Florida Department of Revenue Executive Director Leon Biegalski as defendants.

Parkway is demanding the courts force Garcia to cancel the 2015 tax bill for the Courvoisier Centre, a class A office complex at 501 and 605 Brickell Key Drive and issue a new one. The aggregated 2015 assessment value of the two buildings equates to $123.7 million, according to the Parkway complaint.

Related wants to void the $31.2 million Garcia assessed last year for its redevelopment site at 1400 Biscayne Boulevard, where the company plans to build Auberge Residences & Spa Miami, a 60-story, 363-unit residential tower.

The lawsuits provide a glimpse into the pitched legal battles between major developers and property owners versus Garcia, who between May and June filed separate complaints seeking to undo 2014 tax assessments for three signature properties in Miami-Dade County that the property appraiser claims were too low.

Garcia sued the developers of the Ritz-Carlton Residences, Sunny Isles Beach, alleging their successful appeal of his 2014 property assessment violated state law because it reduced their tax bill by more than 60 percent. He also sued Sunny Isles Property Ventures, a partnership between Fortune International Group and Chateau Group, for winning a similar reduction in 2014.

Garcia also filed a legal challenge against 132 unit owners at the Setai Miami Beach who received a combined $163.7 million in 2014 property tax reductions.

Thomas Flanagan, the attorney representing Parkway and Related, and a spokesman for Garcia declined comment. 

In email statement to The Real Deal, Related Vice President and General Counsel Betsy McCoy said Garcia got it wrong at 1400 Biscayne Boulevard. “We dispute the county’s tax assessment value of the property,” McCoy said. “We are exercising our statutory and constitutional rights to challenge the county’s valuation.”

Correction: A previous version of this story stated that Swire sued, as owner of Courvoisier Centre. Swire developed the property, but Parkway Properties bought it in 2014.


Related Articles

arrow_forward_ios
Joseph Chetrit with Hollywood Beach Resort (Getty, Google Maps)
Investor alleges Chetrit cut it out of Hollywood Beach deal
Investor alleges Chetrit cut it out of Hollywood Beach deal
Alta principals Seth Wise and Joel Altman and rendering of Altra Kendall at 9501 Southwest 137th Avenue (Altman)
Altman scores $75M construction loan for Kendall multifamily project
Altman scores $75M construction loan for Kendall multifamily project
Moishe Mana with Mana Wynwood (Getty, Google Maps)
Moishe Mana scores $275M credit line for Wynwood portfolio
Moishe Mana scores $275M credit line for Wynwood portfolio
Related Group's Jorge Pérez and Related Companies' Stephen Ross
Watch: Billionaire breakup: Related moguls split up
Watch: Billionaire breakup: Related moguls split up
From left: Kimber's Leslie Edelman and developer Jules Trump along with a rendering of the Estates at Acqualina (Getty, Trump Group, Facebook/USA Shooting)
Kimber gunmaker buys Estates at Acqualina condo for $21M
Kimber gunmaker buys Estates at Acqualina condo for $21M
Related Companies' Stephen Ross and Related Group's Jorge Pérez (Getty; Illustration by Kevin Rebong for The Real Deal)
End of a Related era: Steve Ross confirms split with Jorge Pérez as firms expand in South Florida
End of a Related era: Steve Ross confirms split with Jorge Pérez as firms expand in South Florida
Z Capital’s James Zenni Jr. with Carillon Miami Wellness Resort at 6801 Collins Avenue (LinkedIn, Google Maps, Eleventh Circuit Court)
Z Capital slapped with $16M verdict in Carillon Miami Beach lawsuit
Z Capital slapped with $16M verdict in Carillon Miami Beach lawsuit
From left: BH Group’s Isaac Toledano and Prologis' Hamid Moghadam (Getty, BH Group, Prologis, McDowell Housing Partners)
Miami-Dade dev flurry: BH eyes Ojus rentals, Prologis bets on Beacon Lakes expansion
Miami-Dade dev flurry: BH eyes Ojus rentals, Prologis bets on Beacon Lakes expansion
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...